The 22-year-old made his official first-team debut for Bayern Munich in February 2010.
“Contento is under contract with our club,” Bayern’s director of football Christian Nerlinger told German newspaper BILD.
“He has shown he can do a good job for Bayern because he has also played in Europe.
“We know what he can do and we are determined to make sure he signs a new contract.
“We are currently in talks with the player’s representatives and those talks are progressing very well.”